Is Advance Auto Parts Turning The Corner? Analyst Predicts Slow Recovery And Market Share Losses

JPMorgan analyst Christopher Horvers reiterated the Neutral rating on Advance Auto Parts Inc. AAP, with a price forecast of $41.Yesterday, the company reported fourth-quarter adjusted earnings per share of $1.18 loss, which is in line with the analyst consensus estimate. Quarterly sales of $2 billion (down 0.9% year over year) outpaced the street view of $1.93 billion. Comparable store sales for the fourth quarter decreased 1.0%.The analyst maintains a Neutral rating, noting Advance Auto Parts is losing mar ...